Seattle, WA -- (SBWIRE) -- 11/07/2019 -- Artificial Intelligence (AI)-Based Security Market – Insights
Artificial Intelligence (AI) relies on visual perception, speech recognition, decision-making, and translation between languages to offer security management services. For instance, Intrusion Detection System is a security software that automatically detects hacking and alerts user about the attempt.

Artificial Intelligence (AI)-Based Security Market: Drivers
Cellular networks such as 2G, 3G, 4G Long-Term Evolution (LTE), and 5G allow communication and exchange of information, data, and online transactions. However, these networks are prone to cyber-attacks. For instance, according to the Internet Crime Complaint Center (IC3), in 2016, cybercrimes resulted in losses of over US$ 1.33 billion, globally. Therefore, increasing technological advancements and adoption of these cellular networks is a major factor boosting growth of the global artificial intelligence (AI)-based security market.

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Moreover, increasing government initiatives to launch smart city projects is also expected to propel growth of the AI-based security market. For instance, in 2015, Government of India launched '100 Smart Cities Mission'. Important elements of the smart city initiative are digitalization and deployment of Wi-Fi hotspots at various locations. Increasing adoption of Wi-Fi facilities is expected to boost growth of the market. Public Wi-Fi networks are less protected and are therefore, exposed to threats such as malware, phishing, password breaches, and denial of service attacks. Moreover, according to F-Secure Labs, daily around 5000,000 samples of data are received from customer reporting around 10,000 malware and around 60,000 malicious URLs for analysis and protection.

Increasing adoption of IT solutions and proliferation in online transactions and increasing use of services such as NEFT (National Electronic Fund Transfer), RTGS (Real-time Gross Settlement Systems), ECS (Electronic Clearing Service) as well as mobile transactions in the banking and finance sector is expected to fuel growth of the market. Moreover, high number of payment gateways, e-commerce websites, and mobile application that accept online transactions has led to high demand for secure solutions. For instance, according to the Reserve Bank of India (RBI), during 2015–2016, 16,468 frauds associated with ATM, debit card, credit card, and net banking were reported. Moreover, the number recorded in 2015 was higher compared to those recorded in 2014, accounting for 13,083 frauds and that recorded in 2013, accounting for 9,500.

Artificial Intelligence (AI)-Based Security Market: Restraints
However, AI simply measures the relation between input and output variables. This offers no guarantee of the true insights on the problem and nature of the solution, which is expected to hinder growth of the global AI-based security market.

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Artificial Intelligence (AI)-Based Security Market: Regional Analysis
On the basis of region, the global artificial intelligence-based security market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America accounted for the largest market share in 2016, and is expected to maintain its dominance during the forecast period, owing to increasing cyber-attacks in the region. The U.S. held dominant position in North America market in 2016. This is attributed to increasing cyber-attacks on various industries. For instance, according to the Internet Crime Complaint Center (IC3), in 2016, cybercrimes were valued at over US$ 1.33 billion globally, in which, California witnessed the highest recorded loss with over US$ 255 million. Moreover, in 2016, around 28% of web application attacks were recorded in the U.S., followed by the Netherlands and Germany.

Increasing use of machine learning and natural language processing technologies along with increasing number of 5G pilot projects is expected to growth of the market in Asia Pacific. Moreover, the market is expected to witness the highest CAGR over the forecast period. For instance, in December 2017, China Telecom Corporation Ltd. established a new 5G base station in Lanzhou to expand 5G pilot projects in China.

Artificial Intelligence (AI)-Based Security Market: Competitive Landscape
Major players operating in the global artificial intelligence-based security market include, Samsung Electronics Co., Ltd., Micron Technology, Nvidia Corporation, Intel Corporation, Xilinx Inc., IBM Corporation, Cylance Inc., Threatmetrix, Securonix, Inc., Amazon, Sift Science, Acalvio Technologies, and Skycure Inc.

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